Ernst & Young partner accuses firm of brushing off assault complaint [Reuters]
Not too good, EY:
In a complaint alleging discrimination and retaliation filed with the U.S. Equal Employment Opportunity Commission, Jessica Casucci, a partner in Ernst & Young’s New York office, accused fellow partner John Martinkat of sexually assaulting her in front of two other male partners in a bar in 2015. The complaint was seen by Reuters.
Ms. Casucci says she reported the incident to EY’s diversity and inclusion officer “after she learned that another woman had been subjected to inappropriate sexual conduct,” yet the firm took no action against Martinkat. Her complaint went on to say that she had to “rebuild her entire book of business from scratch” to avoid Martinkat while his “career has not been affected at all.” The firm has placed Martinkat on administrative leave.
Will Treasurers Ever Dump Their Spreadsheets? [CFO]
There seems to be plenty of anecdotal evidence that no one plans to dump their spreadsheets, let alone corporate treasurers, even though some people think they should. A study from the Aite Group found that many treasurers have a “fear of moving on to an overly complicated [treasury management] system.”
Report finds big fraud problems for small businesses [JofA]
The ACFE’s 2018 Report to the Nations on Occupational Fraud and Abuse found that the median loss for businesses with fewer than 100 employees was $200k, nearly double of the median loss for those with more than 100 employees.
Uber Selects VMware’s Rowe as Top CFO Candidate [Bloomberg]
Zane Rowe has had stints at Continental Airlines and Apple. He would be the last piece of Uber’s executive puzzle, as the company looks toward an IPO in 2019.
Elsewhere in fancy CFO jobs: Alesia Haas will leave Och-Ziff for Coinbase.
Accounting class-action suits hit record levels [AT]
Cornerstone research found that 165 securities class action lawsuits with “accounting-related allegations” were filed in 2017, up from 88 in 2016. The number of settlements was also up from 2016 (46 to 49) but the settlement value declined from $4.9 billion to $861.6 million.
Previously, on Going Concern…
Jason Bramwell reported the perspectives of non-CPA controllers on certifications.
I revisited the KPMG South Africa dumpster fire.
In Open Items, someone is asking about background checks.
In other news:
- Why Asking About Current Pay Is the New Taboo for Prospective Employers
- P&G to Acquire Merck KGaA’s Consumer-Health Unit
- “It’s like washing the sins of busy season for four months.”
- A cryptocurrency wallet for kids.
- ‘No to sex on roundabouts‘, Norway tells high school graduates
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